Three US state securities regulators issue cease and desist orders against Slotie NFT, alleging illegal and fraudulent sales of NFT

2022/10/20 20:00

The Alabama Securities Commission, the Kentucky Department of Financial Institutions and the Texas Securities Commission have issued cease and desist orders against Slotie NFT, alleging that Slotie NFT illegally and fraudulently sold NFT tokens to fund online and meta-universe casinos to raise funds. Slotie is based in Georgia. According to regulators, the company issued 10,000 Slotie NFTs, offering investors an ownership interest in the casino and the opportunity to earn passive income from its operations. The filings also accuse Slotie of violating state registration laws by failing to register its securitised NFTs with the Securities Commission.

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